Ed Fin and Negative Reports: Shocking 180 point drop in Credit Score

Ed Fin and Negative Reports: Shocking 180 point drop in Credit Score

I have 11 separate student loans through the DOE Direct Loans. I fell behind on payments by 90 days and all were reported as "negative" accounts on my credit report. I am very sick about this. My credit report dropped 170 points. I called Direct Loans, Equifax, and a consumer credit reporting agency. They informed me that there was nothing I could do about this; even getting my payments current would not remove the negative scores. I have been reading threads here to get information and have found it helpful. I would like to know if I need to go into default before I can actually get into the rehab program? Does rehab garnish pay, or can I pay voluntarily? Finally, can negative reports be removed from one's credit report? Thanks for any help you can offer.

I can't speak to the SL process per rehabbing and so forth, but I have seen some folks claim success by sending a Goodwill letter to Direct Loans and having lates removed. I would get current on each now and then wait a month or two, and making sure your CRs update before trying the GW route.

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FTC's website on credit.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.